Emini Still Bouncing off our Fibonacci Grid Dec 20

Dec 20, 2016: 11:20 AM CST

Up, up and away!  To new highs we go!

Here’s today’s updated Emini (@ES) trading levels for your trades:

As was the case earlier in the week, our 23.6% Fibonacci Level intersects the 2,250 @ES level which is our pivot.

Price rallied up off this level since the Fed Day when buyers defended the support and continued to do so today.

Note the descending triangle trendline and bullish “Open Air” above 2,260 accordingly.

We saw the bullish break above the descending trendline and now we’re trading the upward drift after the breakout.

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Corey Rosenbloom, CMT

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